TENANT FEES

Standard fees

When renting a property, there are various costs that you will need to take into consideration when making an offer.

Prior to your Tenancy:

– New tenancy agreement fee: £400 (inc. VAT) payable by the tenant. This is payable after your offer has been accepted and we have proceeded to draw up a tenancy agreement and includes the reference check costs. References are carried out by an independent Third Party and include a credit check.

– Advance Rent: Rent is usually payable in advance for each tenancy. You will therefore need to pay, as a minimum, the first month’s rent prior to the commencement of your tenancy, although the amount payable may differ depending on the terms of your tenancy.

– Tenancy Deposit: This is usually the equivalent of 6 weeks’ rent, payable prior to the commencement of your tenancy.

– Inventory charges. In most lets, the tenant will be responsible for paying the inventory check out costs at the end of the Tenancy. The cost is approximately £150 – £250 depending on the size of the property.

During your Tenancy:

– Tenancy renewal agreement fee: £100 (inc. VAT) payable by the tenant. This is payable upon renewal, should you and your landlord mutually agree to renew the tenancy for a further term.

At the end of your Tenancy:

– Professional Clean: Tenants will usually be responsible for paying for a professional clean at the end of the tenancy. Costs can vary depending on the size of the property and your requirements.

Other fees that may apply:

– Changes to the parties of the tenancy agreement (Tenancy Swap). In the event that you wish to make changes to the parties of the tenancy agreement, a new tenancy agreement will be required. A tenancy agreement and arrangement fee of £420 (inc. VAT) will be payable by the tenant and includes a reference fee per tenant and / or Guarantor. Please note that Tenancy Swaps are subject to the landlord’s consent and reference approval.

– Late rental payment or unpaid cheques. £30.00 (inc. VAT) will be payable by the tenant in respect of late rental payments or cheques that are returned unpaid. Interest on late payment of rent will also be charged in accordance with the terms as stated in the tenancy agreement, usually at a rate of 5% per annum over National Westminster Plc’s base lending rate.

Any payments

– Should you have any queries regarding the charges and costs associated with renting a property, please do not hesitate to contact one of our lettings consultants who shall be happy to explain these in further detail.

LANDLORD FEES

Standard fees

At Marylebone Properties International we pride ourselves on being upfront about our fees, so you know right from the outset exactly what you will be paying for.

Please find enclosed a comprehensive list of our letting fees and charges for both landlords and tenants. Should you require clarification of any of the following information, do not hesitate to speak with a member of your local lettings branch. Also note that all our fees are inclusive of VAT unless otherwise stated.

LETTING CHARGES

Letting Only

7% including VAT (i.e. 13.2%) of the agreed rent for the entire term due in full at the commencement of the tenancy and subject to a minimum fee of £900.

Letting & Property Management

10% including VAT for letting and rent collect fee, of which is due in full at the commencement of the tenancy for the entire initial term. The property management fee is included.

Short Lettings

20% including of the agreed rent for the entire term and any renewal / extension due in full at the commencement of the tenancy and renewal / extension. Subject to a minimum fee of £900.

Renewal C0mmission

Same fees as agreed at the on the first contract for letting and management of the property and calculated on the agreed rent for the total rent reserved.

Furnishing the Property

An administration fee of 10% including of total cost. Subject to minimum fee of £180.

Gas Safety

£60 plus the cost of the gas safety check (not applicable with the property management service).

Portable Appliance Test (PAT) arrangement fee

£60 including VAT plus the cost of the PAT test.

Legionnaires Assessment arrangement fee

£60 including VAT plus the cost of the PAT test.

EPC Arrangement Fee

£60 including VAT plus the cost of the PAT test.

Smoke and Carbon Monoxide Alarms Installation Arrangement Fee

£60 including VAT plus the cost of the PAT test.

Cancellation Fee

£600

CHAPS Fee for Overseas Payments

£20

Inventory charges. In most lets, the Landlord will be responsible for paying the inventory check in costs at the beginning of the Tenancy and prior to the moving in of the Tenants. The cost is approximately £150 – £250 depending on the size of the property

Unless otherwise stated, all fees are inclusive of VAT

For clarification on any charges referred to herein, please contact us.

Seller Fees

Our standard fees for sole and multiple agency.

STANDARD FEES

Sole agency

1,5% (including VAT)

Where Marylebone Properties International act on your behalf as your sole agent, you will be liable to pay remuneration to us, in addition to any other costs or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with a purchaser introduced by us during the period of our sole agency or with whom we had negotiations about the property during that period; or with a purchaser introduced by another agent during that period. Sole agency instructions, including Open House which is only available on a sole agency basis, are subject to a minimum contract period of 12 weeks. Either party may terminate such a contract by giving four weeks’ notice in writing. Such notice cannot be served prior to the eighth week of instruction due to this minimum period.

Multiple agency

2% (including VAT)

Where Marylebone Properties International is instructed along with other agents, you will be liable to pay remuneration to us, in addition to any other costs or charges agreed, if at any time unconditional contracts for the sale of the property are exchanged with a purchaser introduced by us; or with a purchaser to whose attention we brought the availability of the property. A multiple agency instruction can be terminated at any time by either party by giving four weeks’ notice in writing. Asset Transfer For the avoidance of doubt and without prejudice to the above it is the intention of the parties to this agreement that any purchase by way of asset transfer will be effected to maximise efficiencies and that such a transfer will be treated as if it was a sale of property for the purposes of this agreement.

Energy Performance Certificate

£118.80

All fees unless otherwise stated are inclusive of VAT

Standard Fees

Selling Fees

5%(including VAT) of the Premium and 10%(including VAT) of one-year rent of the Commercial Premises.

The fees are applied to the transfer of the lease from the Current Tenant of a commercial Premises to a new one. The contract will be shown to you prior to enter into an agreement with Marylebone Properties International

Marylebone Properties International is member of TPO.

Marylebone Properties International is part of a DPS for Tenant Deposit Protection.

Marylebone Properties International is not currently member of a money protection scheme.